EA Capital, a financial services company focused on blockchain technology in South Africa, has obtained a regulatory license in the region. The company received a Category I license as a Crypto Asset Service Provider from the Financial Sector Conduct Authority.
As of 2022, EA Capital reportedly operates as a regulated financial services provider and a responsible institution under the Financial Intelligence Center.
According to the company’s LinkedIn post, the license reflects South Africa’s efforts to regulate the digital asset space with the aim of protecting investors and consumers while increasing the sector’s credibility. The company is now looking to integrate established banking practices with its digital solutions.
“EA Capital offers a unique blend of an established traditional international banking team with a long-standing market-leading track record, an experienced and knowledgeable crypto/digital asset & blockchain technology team with complementary skills and experience,” Ryan Aufrichtig, company founder and CEO, commented.
“Our CASP license underlines EA Capital (Pty) Ltd’s culture, experience, expertise and understanding in the governance and management of the entire ‘front-to-back’ business within a highly regulated TradFi environment in the crypto/digital space/age. “
Expect continued updates as this story develops.